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    Date Content REF DR CR

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    Thành Phạm
    The document contains a transaction log for a business from August 1st to August 31st. It records cash receipts and payments, revenue and expenses, and purchases of equipment and furniture. The summary provides income and expense figures, calculates ending balances for accounts, and presents a trial balance, income statement, owner's equity statement and balance sheet.

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    Date Content REF DR CR

    Uploaded by

    Thành Phạm
    19 views3 pages
    The document contains a transaction log for a business from August 1st to August 31st. It records cash receipts and payments, revenue and expenses, and purchases of equipment and furniture. The summary provides income and expense figures, calculates ending balances for accounts, and presents a trial balance, income statement, owner's equity statement and balance sheet.

    Original Description:

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    Original Title

    Boo Keeping

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    The document contains a transaction log for a business from August 1st to August 31st. It records cash receipts and payments, revenue and expenses, and purchases of equipment and furniture. The summary provides income and expense figures, calculates ending balances for accounts, and presents a trial balance, income statement, owner's equity statement and balance sheet.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    19 views3 pages

    Date Content REF DR CR

    Uploaded by

    Thành Phạm
    The document contains a transaction log for a business from August 1st to August 31st. It records cash receipts and payments, revenue and expenses, and purchases of equipment and furniture. The summary provides income and expense figures, calculates ending balances for accounts, and presents a trial balance, income statement, owner's equity statement and balance sheet.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Date CONTENT REF Dr Cr

    August 1st Cash 1 $3000


    Equipment $15000
    Capital $18000
    nd
    August 2 Furniture 2 $600
    Cash $600
    rd
    August 3 Rent Expense 3 $500
    Cash $500
    th
    August 4 Equipment 4 $1200
    Note Payable $1200
    August 5th Cash 5 $825
    Revenue $825
    August 15th Account Receivable 6 $100
    Revenue $100
    August 17th Cash 7 $100
    Account Receivable $100
    th
    August 17 Wages 8 $125
    Cash $125
    st
    August 31 Cash 9 $930
    Revenue $930
    st
    August 31 Note Payable 10 $400
    Cash $400
    August 31st Withdrawals 11 $900
    Cash $900

    Cash
    (1) $3000 (2) $600
    (5) $825 (3) $500
    (7) $100 (8) $125
    (9) $930 (10) $400
    (11) $900
    $4855 $2525
    Ending Balance: $2330

    Account Receivable
    (6) $100 (7) $100
    $100 $100
    Ending Balance: 0

    Furniture
    (2) $600
    $600 0
    Ending Balance: $600
    Equipment
    (1) $15000
    (4) $1200
    $16200 0
    Balance: $16200

    Note Payable
    (10) $400 (4) $1200
    0 $800
    Balance: $800

    Capital
    (1) $18000
    0 $18000
    Balance: $18000

    Withdrawal
    (11) $900
    $900 0
    Balance: $900

    Revenue
    (5) $825
    (6) $100
    (9) $930
    0 $1855
    Balance: $1855

    Rent expenses
    (3) $500
    $500 0
    Balance: $500

    Wages
    (8) $125
    $125 0
    Balance: $125
    Trial Balance
    Expressions (August 31st)
    Debit Credit
    Cash $2330
    Account Receivable $0
    Furniture $600
    Equipment $16200 $800
    Note Payable $18000
    Capital
    Withdrawals $900
    Revenue $1855
    Rent Expense $500
    Wages $125
    Total $20655 $20655

    Income Statement
    Expression (August 31st)
    Revenue:
    _ Haircutting revenue $1855
    Total revenue $1855

    Expenses:
    _ Rent expense $500
    _ Wages $125
    Total expenses $625
    Net income $1230

    Owner’s Equity Statement


    Expression (August 31st)
    Beginning Capital (August 1st): 0
    Plus: Investment by owner $18000
    Net income $1230
    $19230

    Plus: Withdrawal by owner $900


    Total capital $18330

    Balance Sheet
    Assets: Liabilities
    _ Cash $2330 _ Note Payable $800
    _ Furniture $600 Equity
    _ Equipment $16200 _ Total Capital $18330

    Total Assets $19130 Total liabilities and Equity $19130

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